Calculating investment

Business & Finance
Tutor: None Selected Time limit: 1 Day

To what amount will the following investment accumulate? 

$7,130 invested today for 19 years at 6%, compounded annually. Which formula would I work this with? I'm confused.

Aug 26th, 2015

Thank you for the opportunity to help you with your question!

the formula is 

7130*(1+0.06)^19

general formula 

A*(1+i)^n

A is the initial investment amount, i is the compound interest rate in a period,  and n is the number of compound period 

Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 26th, 2015

Okay, now I see. I wasn't sure which formula to use as there's so many to work with when on the subject of the time value of money. 

Thank you!

Aug 26th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Aug 26th, 2015
...
Aug 26th, 2015
Dec 8th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer